The General Directorate of Insurance and Pension Funds recommends that insurance entities not distribute dividends while the direct consequences of COVID-19 continue.

01 Jan The General Directorate of Insurance and Pension Funds recommends that insurance entities not distribute dividends while the direct consequences of COVID-19 continue.

07 April 2020

La Dirección General de Seguros y Fondos de Pensiones, in line with the recommendations of the European Insurance and Occupational Pensions Authority, has published a note in which it recommends that insurance entities and their groups subject to supervision not make dividend distributions, assume irrevocable commitments to pay them or carry out operations that, like share buybacks, may have a materially equivalent effect, while the direct consequences of the health crisis derived from the coronavirus/COVID-19 persist.

Source:: Treasury News